Common use of Class P Reserve Account Clause in Contracts

Class P Reserve Account. (a) On or before the Closing Date, the Trustee shall establish a Class P Reserve Account on behalf of the Holders of the Class P Certificates. The Class P Reserve Account must be an Eligible Account. The Class P Reserve Account shall be entitled "Class P Reserve Account, U.S. Bank National Association as Trustee for the benefit of holders of Residential Accredit Loans, Inc., Mortgage Asset-Backed Pass-Through Certificates, Series 2006-QA2," (the "Class P Reserve Account"). On the Closing Date, the Depositor will cause, on behalf of the Trust, the Class P Reserve Account Amount to be deposited into the Class P Reserve Account. In addition, all amounts received by the Master Servicer in connection with Prepayment Charges on the Prepayment Charge Loans shall be remitted by the Master Servicer on the Certificate Account Deposit Date to the Trustee and shall be deposited by the Trustee into the Class P Reserve Account, at the direction of the Master Servicer, upon receipt thereof. Funds on deposit in the Class P Reserve Account shall be held in trust by the Trustee for the holder of the Class P Certificates. (b) On the Business Day prior to each Distribution Date, the Trustee shall withdraw the amount then on deposit in the Class P Reserve Account representing Prepayment Charges in respect of the Prepayment Charge Loans received during the related Prepayment Period and deposit such amount into the Certificate Account to be distributed to the Holders of the Class P Certificates in accordance with Section 4.02(k).

Class P Reserve Account. (a) On or before the Closing Date, the Trustee shall establish a Class P Reserve Account on behalf of the Holders of the Class P Certificates. The Class P Reserve Account must be an Eligible Account. The Class P Reserve Account shall be entitled "Class P Reserve Account, U.S. Deutsche Bank National Association Trust Company Americas as Trustee for the benefit of holders of Residential Accredit Loans, Inc., Mortgage Asset-Backed Pass-Through Certificates, Series 20062005-QA2QO5," (the "Class P Reserve Account"). On the Closing Date, the Depositor will cause, on behalf of the Trust, the Class P Reserve Account Amount to be deposited into the Class P Reserve Account. In addition, all amounts received by the Master Servicer in connection with Prepayment Charges on the Prepayment Charge Loans shall be remitted by the Master Servicer on the Certificate Account Deposit Date to the Trustee and shall be deposited by the Trustee into the Class P Reserve Account, at the direction of the Master Servicer, upon receipt thereof. Funds on deposit in the Class P Reserve Account shall be held in trust by the Trustee for the holder of the Class P Certificates. (b) On the Business Day prior to each Distribution Date, the Trustee shall withdraw the amount then on deposit in the Class P Reserve Account representing Prepayment Charges in respect of the Prepayment Charge Loans received during the related Prepayment Period and deposit such amount into the Certificate Account to be distributed to the Holders of the Class P Certificates in accordance with Section 4.02(k4.02(h).

Class P Reserve Account. (a) On or before the Closing Date, the The Trustee shall establish a Class P Reserve Account on behalf of the Holders of the Class P Certificates. The Class P Reserve Account must be an Eligible Account. The Class P Reserve Account shall be entitled "Class P Reserve Account, U.S. Deutsche Bank National Association Trust Company Americas, as Trustee for the benefit of holders of Residential Accredit Loans, Inc., Mortgage Asset-Backed Pass-Through Certificates, Series 2006-QA2QA3," (the "Class P Reserve Account"). On the Closing Date, the Depositor will cause, on behalf of the Trust, the Class P Reserve Account Amount to be deposited into the Class P Reserve Account. In addition, all amounts received by the Master Servicer in connection with Prepayment Charges on the Prepayment Charge Loans shall be remitted by the Master Servicer on the Certificate Account Deposit Date to the Trustee and shall be deposited by the Trustee into the Class P Reserve Account, at the direction of the Master Servicer, upon receipt thereof. Funds on deposit in the Class P Reserve Account shall be held in trust by the Trustee for the holder of the Class P Certificates. (b) On the Business Day prior to each Distribution Date, the Trustee shall withdraw the amount then on deposit in the Class P Reserve Account representing Prepayment Charges in respect of the Prepayment Charge Loans received during the related Prepayment Period and deposit such amount into the Certificate Account to be distributed to the Holders of the Class P Certificates in accordance with Section 4.02(k4.02(h).